Industry News by Nemesis

Lulo Diamonds Sell for A$11.4 Million

February 5, 2018

Selection of Lulo diamonds from the first sale parcel for 2018 (Image courtesy of Lucapa)

Lucapa Diamond Company Limited (ASX: LOM) (“Lucapa” or “the Company”) and its partners, Empresa Nacional de Diamantes E.P. (“Endiama”) and Rosas & Petalas, have completed the first sale for 2018 of alluvial diamonds from the Lulo Diamond Project in Angola.

The sale of 4,170 carats of Lulo diamonds achieved gross proceeds of US$9.14 million (A$11.43 million), representing an exceptional average price per carat of US$2,192.

The latest sale takes total sales of Lulo diamonds, from exploration and mining, to US$106.81 million at US$2,118 per carat.

With the latest sale completed, the next cash distribution to the Lulo partners and loan repayment to Lucapa will be considered as soon as the 2017 accounts of Lulo alluvial mining Sociedade Mineira Do Lulo are finalised (See ASX announcement 19 December 2017).